5206 Magazine St New Orleans, LA 70115
West Riverside NeighborhoodEstimated payment $9,492/month
Highlights
- Central Heating and Cooling System
- Property is in very good condition
- Fenced
About This Home
Incredible investment opportunity in the heart of Magazine Street’s vibrant commercial corridor! This mixed-use property offers 5,103 total square feet (4,442 living) on a deep 45’ x 130’ lot. Two long-term commercial tenants anchor the street-level frontage, offering strong visibility and consistent rental income. The residential portion includes three apartments: a rented 1-bedroom unit, a large, newly renovated 2-bedroom, 1.5-bath unit with a bonus office/exercise room and 2024 updated kitchen (owner occupied), and a third 1-bedroom, 1-bath upper unit in need of a full renovation—an excellent value-add opportunity. Foundation piers were replaced in 2024. With over $75,000 in current annual rents and additional income potential, this property offers both performance and upside in one of New Orleans’ most sought-after locations. Zoned for mixed-use and surrounded by restaurants, boutiques, and neighborhood amenities, this is your chance to own a high-performing property in the heart of Magazine Street.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,395
Lot Details
- Lot Dimensions are 45x130
- Fenced
- Property is in very good condition
Home Design
- Flat Roof Shape
- Raised Foundation
- Slab Foundation
- Frame Construction
- Shingle Roof
- Vinyl Siding
- Stucco Exterior
Interior Spaces
- 4,442 Sq Ft Home
- Property has 2 Levels
Location
- Outside City Limits
Utilities
- Central Heating and Cooling System
- Window Unit Cooling System
- Multiple Heating Units
- Internet Available
Community Details
- 4 Units
Listing and Financial Details
- Assessor Parcel Number 614123310
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $8,395 | $70,450 | $26,330 | $44,120 |
| 2024 | $8,521 | $70,450 | $26,330 | $44,120 |
| 2023 | $8,246 | $68,480 | $20,480 | $48,000 |
| 2022 | $8,246 | $65,410 | $20,480 | $44,930 |
| 2021 | $7,963 | $62,140 | $20,480 | $41,660 |
| 2020 | $8,963 | $68,480 | $20,480 | $48,000 |
| 2019 | $6,091 | $47,170 | $20,480 | $26,690 |
| 2018 | $6,210 | $47,170 | $20,480 | $26,690 |
| 2017 | $6,896 | $53,840 | $20,480 | $33,360 |
| 2016 | $7,112 | $53,840 | $20,480 | $33,360 |
| 2015 | $6,097 | $47,980 | $14,630 | $33,350 |
| 2014 | -- | $47,980 | $14,630 | $33,350 |
| 2013 | -- | $47,980 | $14,630 | $33,350 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/28/2025 08/28/25 | Price Changed | $1,650,000 | -2.9% | $371 / Sq Ft |
| 07/10/2025 07/10/25 | For Sale | $1,700,000 | -- | $383 / Sq Ft |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $300,000 | Future Advance Clause Open End Mortgage | |
| Closed | $165,000 | Future Advance Clause Open End Mortgage | |
| Closed | $50,000 | Credit Line Revolving |
Source: Gulf South Real Estate Information Network
MLS Number: 2511388
APN: 6-14-1-233-10
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